No Bonuses for Utility Executives Act

This bill would limit bonuses paid to top executives of state-regulated electric utilities starting January 1, 2027. A utility could pay an executive bonus for a year only if its average customer rate increase that year did not exceed the increase in the Consumer Price Index. Any bonus could not exceed 25 percent of the median yearly pay of the utility's non-executive employees, and the Federal Energy Regulatory Commission would have to approve whether a bonus is allowed before it is paid. Bonuses paid in violation of the rules would be collected as a civil penalty that the utility could not pass on to customers, and the Treasury would divide that money evenly among the utility's customers as payments.

Full text and official record on Congress.gov

Sponsors

• Richard Blumenthal Democrat sponsor
• 1 cosponsors